OFFERING MEMORANDUM HILTON GARDEN INN SHREVEPORT | HAMPTON INN & SUITES NATCHEZ TTABLEABLE OFOF CONTENTCONTENTSS
MichaelMichael Bull, Bull, CCIM CCIM DISCLAIMERDISCLAIMER 33 BrBrokokerer EXECUTIVEEXECUTIVE SUMMARY SUMMARY 44 Michael@[email protected] PROPERTYPROPERTY HIGHLIGHTS HIGHLIGHTS 55 404-876-1640404-876-1640 x101 x101 PROPERTYPROPERTY INFORMATION INFORMATION 77 Broker of Record: PROPERTYASSUMABLE IMPROVEMENT CMBS FINANCING PLAN 99 SubhashSubhash Naik Naik T ABLE OF CONTENTS Michael Bull | Bull Realty ASSUMABLE CMBS FINANCINGPHOTOS 1010 BrBrokokerer DISCLAIMER 3 [email protected] Bull, CCIM | 404-876-1640 x 101 LOCATIONSALE COMPS MAPS 1116 Deals@[email protected] BrMSoker License# 19258 EXECUTIVE SUMMARY 4 661-978-3109661-978-3109 SHREVEPORT MARKETSTR OVERVIEWREPORTS 1217 Michael@BullRLA License# ealty#0995682801-ACT.com PROPERTY HIGHLIGHTS 5 SHREVEPORTHISTORICAL MAJOR FINANCIALSEMPLOYERS 1423 404-876-1640 x101 PROPERTY INFORMATION 7 NATCHEZ MARKETPRO OVERVIEW FORMA 1724 Co-Broker: ASSUMABLE CMBS FINANCING 9 INVESTMENT ANALYSIS PORTFOLIO 1935 SubhashSubhash Naik Naik | Hotel Brokers of America NATCHEZ MAJOR EMPLOYERS PHOTOS 10 [email protected] | 661-978-3109 STABILIZEDTEAM VALUATION PROFILE 2336 LOCATION MAPS 16 Deals@hbofBrBrLicense#okeroker of of R Rec ec01717362americordord a.com CONFIDENTIALITY AGREEMENTPHOTOS 2637 SHREVEPORT MARKET OVERVIEW 17 Michael661-978-3109Michael Bull Bull LOCATION MAPS 32 BullBull R Realtyealty,, Inc. Inc. SHREVEPORT MAJOR EMPLOYERS 23 SHREVEPORT MARKET OVERVIEW 34 MSMS License# License# 19258 19258 | | LA LA License# License# #0995682801-A #0995682801-ACTCT NATCHEZ MARKET OVERVIEW 24 SHREVEPORT MAJOR EMPLOYERS 40 NATCHEZ MAJOR EMPLOYERS 35 NATCHEZ MARKET OVERVIEW 41 BullBull R Realtyealty,, Inc. Inc. Bull Realty, Inc. TEAM PROFILE 36 5050 Glenlak Glenlakee Parkw Parkway,ay, Suit Suitee 600 600 NATCHEZ MAJOR EMPLOYERS 52 Br50oker Glenlake of Record Parkway, Suite 600 CONFIDENTIALITY AGREEMENT 37 AtlantAtlanta,a, GA GA 30328 30328 TEAM PROFILE 53 MichaelAtlanta, Bull GA 30328 BullRBullRealtyealty.com.com BullBullRealty.com Realty, Inc. MS License# 19258 | LA License# #0995682801-ACT
Bull Realty, Inc. 50 Glenlake Parkway, Suite 600 Atlanta, GA 30328 BullRealty.com
Exclusively Co-listedExclusivelyExclusively by Bull listedlisted Realty, byby BullInc.Bull & Realty,Realty, Hotel Inc.Inc.Brokers of America 59715971 FinancialFinancial PlazaPlaza || PPagagee 22 ofof5337
Exclusively listed by Bull Realty, Inc. 5971 Financial Plaza | P age 2 of 37 DISCLAIMER HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Bull Realty has been retained as the exclusive listing broker to arrange the sale of the Subject Property.
This Offering Memorandum contains selected information pertaining to the Property but does not purport to be all-inclusive or to contain all of the information that a prospective purchaser may require. All financial projections are provided for general reference purposes only and are based upon assumptions relating to the general economy, competition and other factors, which therefore, are subject to material change or variation. Prospective purchasers may not rely upon the financial projections, as they are illustrative only. An opportunity to inspect the Property will be made availableto qualified prospective purchasers.
In this Offering Memorandum, certain documents, including financial information, are described in summary form and do not purport to be complete or accurate descriptions of the full agreements involved, nor do they constitute a legal analysis of such documents. Interested parties are expected to review independently all documents.
This Offering Memorandum is subject to prior placement, errors, omissions, changes or withdrawal without notice and does not constitute a recommendation, endorsement, suitability or advice as to the value of the Property by Bull Realty Inc. or the current Owner/Seller. Each prospective purchaser is to rely upon its own investigation, evaluation and judgment as to the advisability of purchasing the Property described herein.
Owner/Seller expressly reserve the right, at its sole discretion, to reject any or all expressions of interest or offers and/or to terminate discussions with any party at any time with or without notice. Owner/Seller shall have no legal commitment or obligation to any purchaser reviewing this Offering Memorandum or making an offer on the Property unless a written agreement for the purchase of the Property has been fully executed, delivered and approved by the Owner/Seller and any conditions to the purchaser's obligations therein have been satisfied or waived. The Owner/Seller reserves the right to move forward with an acceptable offer prior to the call for offers deadline.
This Offering Memorandum may be used only by parties approved by the Broker. The Property is privately offered, and by accepting this Offering Memorandum, the party in possession hereof agrees (i) to return it if requested and (ii) that this Offering Memorandum and its contents are of a confidential nature and will be held and treated in the strictest confidence. No portion of this Offering Memorandum may be copied orotherwise reproduced or disclosed to anyone without the prior written authorization of Bull Realty, Inc. The terms and conditions set forth above apply to this Offering Memorandum in its entirety and all documents, disks and other information provided in connection therewith.
Page 3 of 37 EXECUTIVE SUMMARY HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
OOVERVERVIEWVIEW
Bull Realty, Inc. and Hotel Brokers of America are pleased to offer, on exclusively co-listed basis, the opportunity to acquire the fee-simple interest in the 86-key Hampton Inn & Suites in Natchez, MS and the 135-key Hilton Garden Inn in Shreveport, LA (referred to herein as the “Property(s),” “Asset(s),” or “Hotel(s)” both unencumbered of management. Both assets require significant PIPs, offering investors renovation upside, as well as, management upside. The properties are located on the main east-west arteries of their respective markets, nearby to primary market drivers. Both properties are offered unpriced, the seller is encouraging investors to make offers as these properties will be sold to the highest bidder.
Page 4 of 37 PROPERTY HIGHLIGHTS HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
HAMPHAMPTTONON INN & SUITESUITES NAS NATTCHECHEZZ HIGHLIGHTHIGHLIGHTSS • Directly off U.S.-425 (25,000 ADT) • Antebellum tourist destination • Natchez Pilgrimage Tours • Situated on bluffs overlooking Mississippi River • Possible docking location for Viking Cruise Lines • Natchez Convention Center • Magnolia Bluffs Casino • Merit Health Natchez • Port of Natchez • Correction Corporation of America • Grand Village of Natchez Native Americans • Emerald Mound
Page 5 of 37 PROPERTY HIGHLIGHTS HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
HILHILTTONON GARDEN INN SHREVEPORSHREVEPORTT • Directly off I-20 (70,525 ADT)
• Shreveport Regional Airport
• Barksdale Air Force Base
• Cyber Innovation Center
• Air Force Global Strike Command
• LSU Health Sciences Center
• VA Hospital
• Casinos
• 51 Annual Festivals
• #4 film industry in the nation
Page 6 of 37 HAMPTON INN & SUITES NATCHEZ HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
AddrAddress:ess: 627 S Canal Street, Natchez, MS 39120 CounCounty:ty: Natchez-Adams SitSite Size Size:e: 2.27 AC Building SizBuilding Size:e: 55,467 SF ZZoning:oning: Commercial YYear Built:ear Built: 2008; Renovated 2013 Number Of StStories:ories: 4 Number Of KKeeyys:s: 86 FrFraming:aming: Stick ExExtterior:erior: Stucco RRoof:oof: PTO HVHVAAC:C: PTAC/Central King Studio: 31 King Study Sofa-bed: 9 RRoom Mix:oom Mix: King ADA: 3 King ADA Suite: 1 Double Queen: 39 Double Queen ADA: 3
Amenities:Amenities: Free hot breakfast, outdoor pool, fitness room, business center, meeting space
Page 7 of 37 HILTON GARDEN INN SHREVEPORT HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
PrProperty Addroperty Address:ess: 5971 Financial Plaza, Shreveport, LA 71129 PParish:arish: Caddo SitSite Size Size:e: 3.21 AC Building SizBuilding Size:e: 91,440 SF ZZoning:oning: B-3 YYear Built:ear Built: 2008; 2012 Number Of StStories:ories: 4 Number Of KKeeyys:s: 135 FrFraming:aming: Stick ExExtterior:erior: Stucco RRoof:oof: Pitched Shingles HVHVAAC:C: PTAC/Central King: 70 King Suite: 24 RRoom Mix:oom Mix: Double Queen: 31 Double Queen Accessible: 4 King Accessible: 4 King Suite Accessible: 2 Restaurant, bar/lounge, indoor pool, Amenities:Amenities: fitness room, business center, meeting space
Page 8 of 37 ASSUMABLE CMBS FINANCING HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
ASSUMABLE FINANCING ASSUMABLE LLOOAN DETAN DETAILSAILS
Lender Rialto Mortgage Finance The Hampton Inn & Suites Natchez and Hilton Garden Inn Shreveport are Servicer LNR Partners, Inc. / Wells Fargo currently cross collaterized and encumbered by CMBS financing; the current Loan Number 300571016 balance is about $12.4M, at a 5.975% interest rate, maturing in June 2023. Current Principal Balance $12,400,000 Assumption should be considered due to the large Change of Ownership PIP’s Current Interest Rate 5.975% required on both properties. Completion of the PIPs and relaunching properties Monthly Payment $90,920 will correlate closely with the CMBS balloon payment and a new loan with a Amortization 25 years lower interest rate could be obtained. FF&E Reserve 4% of Gross Revenues
• Directly off US-425 (25,000 ADT)
• Antebellum tourist destination • Emerald Mound • Natchez Pilgrimage Tours • Directly off I-20 (70,525 ADT) • Situated on bluffs overlooking Mississippi River • Shreveport Regional Airport • Possible docking location for Viking Cruise Lines • Barksdale Air Force Base • Natchez Convention Center • Cyber Innovation Center • Magnolia Bluffs Casino • Air Force Global Strike Command • Merit Health Natchez • LSU Health Sciences Center • Port of Natchez • VA Hospital • Correction Corporation of America • Casinos • Grand Village of Natchez Native Americans • 51 Annual Festivals • #4 film industry in the nation
Page 9 of 37 HAMPTON INN & SUITES NATCHEZ HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Page 10 of 37 HAMPTON INN & SUITES NATCHEZ HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
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Page 12 of 37 HILTON GARDEN INN SHREVEPORT HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Page 13 of 37 HILTON GARDEN INN SHREVEPORT HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Page 14 of 37 HILTON GARDEN INN SHREVEPORT HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Page 15 of 37 SHREVEPORT LOCATION MAPS HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Page 16 of 37 SHREVEPORT MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
LLOCALOCAL AREAREAA
The Hilton Garden Inn Shreveport's four-story building is adjacent to Shreveport Reginal Airport (SHV), the property is highly-visible off I-20's interstate providing strong connectivity to Texas Highway 220. It is strategically positioned to a strong mix of demand generators, including the Casinos, Red River, Barksdale Air Force Base, Shreveport Airport, Louisiana State University, local sporting venues and a number of corporate demand generators in the surrounding area.
SHREVEPORSHREVEPORTT
Shreveport, the fourth-largest city in Louisiana, and the seat of Caddo Parish, extends along the Red River into neighboring Bossier Parish. Shreveport Regional Airport The city serves as the financial, medical, commercial, industrial and cultural hub of the tri-state area where Arkansas, Louisiana and Texas meet. With nearly 200,000 residents, the city’s trade area crosses the Red River and abuts Bossier City and benefits from its strategic location at the crossroads of three major interstate highways: I-20, I-49 and I-220. The Shreveport-Bossier City MSA is comprised of four parishes. The Shreveport-Bossier City MSA’s population is roughly 441,000 and continues to grow at a very modest rate of 1.0% since 2010. Median household income in Shreveport-Bossier City MSA is $40,445.
Downtown Shreveport
Page 17 of 37 SHREVEPORT MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
EECCONOMYONOMY
Shreveport was once a major player in U.S. oil business and could even boast Standard Oil of Louisiana as a locally based company. Due to the downturn in petroleum employment, the Shreveport-Bossier City MSA has diversified their economic base.
Shreveport-Bossier City MSA is home to the Barksdale Air Force Base, which houses the Air Force Global Strike Command, Eighth Air Force and Second Bomb Wing. The Air Force Base strengthens the local economy with over 10,500 civilian and military personnel with an annual economic impact of $813 million.
Harrah's Louisiana Downs Since the mid-1990s, Shreveport, has been a major gambling center with an emphasis on the “Streetscape” project, which was a revitalization of the downtown river area. There are six riverboat casinos/hotels as well as Harrah’s Louisiana Downs, providing stable employment opportunities as well as an ample tourist population. In May 2005, the Louisiana Boardwalk, a 550,000 SF shopping and entertainment complex, opened in Bossier City across from Shreveport's Downtown. A 350,000 SF convention center was completed in the Shreveport Downtown Riverfront in June 2007.
Recently, this area was designated as a Qualified Opportunity Zone so additional revitalization due to re-investment is expected in this portion of the city.
Louisiana Boardwalk
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EDUCAEDUCATIONTION
Shreveport boasts some of the highest-rated public schools in the state as well one of the best private colleges, Southern University at Shreveport. The Shreveport-Bossier City MSA is also home of the northern campus of Louisiana State University's (LSU) Health Sciences Center, the only medical school in northern Louisiana; Northwestern State University’s School of Nursing, as well as, Northwest Louisiana Technical College, which provides the trade area with a diverse, well-educated workforce. Also based in Shreveport are Southern University at Shreveport (SUSLA), Louisiana Baptist University and Theological Seminary, Ayers Career College, and Virginia College.
LSU Health Sciences Center AIRPORAIRPORTTSS
Shreveport is served by two airports. The larger is Shreveport Regional Airport (SHV) and is served by Allegiant Air, American, Delta and United. Shreveport Downtown Airport (DTN), the smaller airport, is located north of the Downtown Business District along the Red River. It is a general aviation/private airport but was originally Shreveport’s commercial airport until 1952.
HEHEALALTHCARETHCARE
Shreveport-Bossier City is home to extensive healthcare systems which include a number of hospitals such as Willis-Knighton Health System, CHRISTUS Shreveport-Bossier Health System, Ochsner LSU Health Shreveport – Academic Medical Center, Overton Brooks VA Medical Center, Shriners Hospitals for Children and Specialist Hospital – Shreveport. Overton Brooks VA Medical Center
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AIR FAIR FORORCE BCE BASEASE
Barksdale Air Force Base (Barksdale AFB) is a United States Air Force base in northwest Louisiana, in Bossier Parish. It is contiguous to Bossier City along the base’s western and northwestern edge. Barksdale Air Force Base occupies more than 22,000 acres east of Bossier City and along the southern edge of Interstate Highway 20. More than 8,000 active-duty and Air Force Reserve members serve at Barksdale.
The host unit at Barksdale is the 2nd Bomb Wing (2 BW), the oldest bomb wing in the Air Force. It is assigned to the Air Force Global Strike Command’s (AFGSC) Eighth Air Force (8 AF). Equipped with about 44 Barksdale Air Force Base B-52H Stratofortress bombers, 2 BW provides flexible, responsive global combat capability and trains all Air Force Global Strike Command and Air Force Reserve Command Boeing B-52 Stratofortress crews.
The Cyber Innovation Center (CIC), located at the base, is the anchor of the 3,000 acre National Cyber Research Park and serves as the catalyst for the development and expansion of a knowledge-based workforce throughout the region. As a 501c3 not-for-profit corporation, the CIC fosters collaboration among its partners and accelerates technology, research, and development. One of its primary missions is to develop a sustainable knowledge-based workforce that can support the growing needs of government, industry, and academia. Cyber Innovation Center
Page 20 of 37 SHREVEPORT MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
CASINOSCASINOS
The Shreveport-Bossier City market has multiple casinos which include Sam’s Town Hotel & Casino, El Dorado Resort Casino Shreveport, Horseshoe Casino & Hotel, Margaritaville Resort Casino, DiamondJacks Casino & Resort and Boomtown Casino & Hotel. Several casinos have recently introduced new guest amenities including restaurants, bars, and a wine and chocolate group experience. Horse racing is also an option as Harrah’s Louisiana Downs. Louisiana Downs offers live thoroughbred racing, quarter horse racing, year-round simulcast as well as having a casino floor with over 1,300 slot machines.
Eldorado Resort Casino Shreveport SPORSPORTINGTING EVENTEVENTSS Independence Stadium has traditionally hosted a couple college football games during the State Fair of Louisiana, an event currently dubbed the Red River State Fair Classic. Since 1976, Independence Stadium has served as host of college football’s annual Independence Bowl.
Independence Bowl
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OUTDOOR RERECRECREAATIONTION
Caddo and Bossier Parish’s many lakes, bayous, river and parks give visitors a chance to soak up the natural beauty of the area while providing plenty of things to do. Outdoor enthusiasts can zip-line over alligators, hit a hole-in-one at a golf course, or fulfill a need for speed at a racetrack. Area parks provide a great place to retreat, too.
FILM INDUSINDUSTRTRYY
Tax incentives offered by the State make it the fourth largest film industry in the country, behind California, Georgia and New York. More than 25 films have been made in Shreveport since 2006. Facilities include sound stages, prop rental facilities, the Fairgrounds Complex, Bassmaster and the Louisiana Wave Studio, a computer-controlled outdoor wave pool.
FEFESSTIVTIVALSALS
Shreveport plays host to over 51 festivals a year, another reason the city is a major tourist draw, such as Mardi Gras, Bass Master, Red River Revel, and Brew Festival.
Mardi Gras
Page 22 of 37 SHREVEPORT MAJOR EMPLOYERS HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Page 23 of 37 NATCHEZ MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
AREAREAA AMENITIEAMENITIESS
The Hampton Inn & Suites Natchez, a four-story building, is visible from U.S. 425 with multiple area attractions close by. The property is located across from the Natchez Visitors Center and strategically positioned proximate to a mix of demand generators, including the Magnolia Bluffs Casino, Mississippi River, Port of Natchez, Adams County Correctional Center, Merit Health, local outdoor recreation areas and multiple tourist venues.
Natchez has thirteen National Historic Landmarks and over 1,000 structures on the National Register of Historic Places. A large number of those antebellum homes and buildings are within walking distance Natchez Riverboat and US-425 of Downtown.
HISHISTTORICALORICAL SIGNIFICANCE
High on the bluffs overlooking the mighty Mississippi River, Natchez is a unique, and seamless blend of old and new and is the county seat and only city of Adams County, Mississippi. Located on the Mississippi River across from Vidalia in Concordia Parish, Louisiana, Natchez was a prominent city in the antebellum years, a center of cotton planters and Mississippi River trade. Established by French colonists in 1716, Natchez is one of the oldest and most important European settlements in the lower Mississippi River Valley. After the French lost the French and Indian War, they ceded Natchez and nearby territory to Spain in the Treaty of Paris of 1763. Longwood Plantation
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Page 24 of 37 NATCHEZ MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
HISHISTTORICALORICAL SIGNIFICANCE
After the United States acquired this area from the British after the American Revolutionary War, the city served as the capital of the American Mississippi Territory and then of the state of Mississippi. It predates Jackson by more than a century; the latter replaced Natchez as the capital in 1822, as it was more centrally located in the developing state. The strategic location of Natchez, on a bluff overlooking the Mississippi River, ensured that it would be a pivotal center of trade and commerce; it held this position for two centuries after its founding.
In U.S. history, Natchez is recognized particularly for its role in the Downtown Natchez development of the Old Southwest during the first half of the nineteenth century. It was the southern terminus of the historic Natchez Trace, with the northern terminus being Nashville, Tennessee. After unloading their cargoes in Natchez or New Orleans, many pilots and crew of flatboats and keelboats traveled by the Trace overland to their homes in the Ohio River Valley. Given the strong current of the Mississippi River, it was not until steam-powered vessels were developed in the 1820s that travel northward on the river could be accomplished by large boats. The Natchez Trace also played an important role during the War of 1812. Today the modern Natchez Trace Parkway, which commemorates this route, still has its southern terminus in Natchez
St. Mary's Basilica
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HISHISTTORICALORICAL SIGNIFICANCE
In the middle of the nineteenth century, the city attracted wealthy southern planters as residents, who built mansions to fit their ambitions. Their plantations were vast tracts of land in the surrounding lowlands along the river fronts of Mississippi and Louisiana, where they grew large commodity crops of cotton and sugarcane using slave labor. Natchez became the principal port from which these crops were exported, both upriver to northern cities and downriver to New Orleans, where much of the cargo was exported to Europe. Many of the mansions built by planters before 1860 survive and form a major part of the city's architecture and identity.
Agriculture remained the primary economic base for the region until well King's Tavern into the twentieth century. After the American Civil War, the city's economy rapidly revived, mostly due to Natchez having been spared the destruction visited upon many other parts of the South. The vitality of the city and region and significant growth continued for the next the 80 years following the war.
During the twentieth century, the city's economy experienced a downturn, first due to the replacement of steamboat traffic on the Mississippi River by railroads in the early 1900s, some of which bypassed the river cities and drew away their commerce. Later in the 20th century, many local industries closed due to restructuring that reduced the number of jobs in the area. Natchez continues as a popular destination for heritage tourism because of well-preserved antebellum architecture. It remains the principal city of the Natchez, MS–LA Micropolitan Statistical Area.
Rosalie Mansion
Page 26 of 37 NATCHEZ MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Natchez Convention Center
EECCONOMYONOMY
The economy of Natchez-Adams is led by many strong sectors, including manufacturing, health care, banking, retail, the Port of Natchez and a growing tourism industry. Natchez-Adams County is in southwestern Mississippi, and companies benefit from favorable operating costs and low taxes. The Miss Lou Region has launched an initiative to become a certified "Work Ready Region," as conferred by ACT, Inc., a status nationally recognized as apowerful workforce and economic development tool. More than 50 local employers have already signed on to support the initiative. The Mississippi River means a thriving local economy which Michael Chapman wrote about in the song Ol’ Man River. It has also played key roles in novels by William Faulkner, Herman Melville and Mark Twain, and today the mighty Mississippi is playing a key role in the economy of Natchez-Adams County.
These references to the river aid in keeping tourism strong in the region. Today, Natchez is seeing a resurgence in its economy that includes renewed business investment in the river, as evidenced by the Natchez-Adams County Port. Cargo from Natchez is shipped to South America, Europe, the Middle East, Asia and Middle America via the Mississippi River, with commodities such as lumber, plywood, steel, cotton, liquid petroleum products, grain and machinery components. Natchez has maintained its traditional grain and aggregate business while largely increasing the movement of liquid goods like petroleum and petroleum products.
Page 27 of 37 NATCHEZ MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
EECCONOMYONOMY
Things will only get better for the port with the continued development of the nearby Tuscaloosa Marine Shale (oil drilling) project. Over the last three years, the Natchez economy has been bolstered by more than $1 billion in new construction initiatives, including expansions or new projects at companies such Genesis Energy, Elevance Renewable Sciences, Enersteel and Von Drehle.
EDUCAEDUCATIONTION
Natchez is home to Alcorn State University's Natchez Campus, which offers the School of Nursing, the School of Business, and graduate business programs. The School of Business offers Master of Business Port of Natchez & Great River Industries Administration (MBA) degrees and other business classes. The MBA program attracts students from a wide range of academic disciplines and preparation from the Southwest Mississippi area and beyond offering concentrations in general business, gaming management and hospitality management. Both schools in the Natchez campus provide skills which has enabled community students to have an important impact on the economic opportunities of people in Southwest Mississippi. The Copiah-Lincoln Community College Natchez campus offers Associate of Arts and Associate of Applied Science degrees, as well as a variety of career and technical programs, and continuing education classes. Comprehensive post-secondary vocational-technical education and training is also available at Copiah-Lincoln Community College.
Alcorn State Univeristy - School of Nursing
Page 28 of 37 NATCHEZ MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
TRANSPORTRANSPORTTAATIONTION
Natchez port, railways, roads, airport and available sites are strategically located in Southwest Mississippi on the banks of the beautiful Mississippi River with easy access to regional metropolitan areas.
AIRPORAIRPORTTSS
The Natchez-Adams County Airport is primarily a general aviation airport that is capable of handling air carrier charter flights in addition to corporate and business traffic. The airport has two hard-surfaced lighted runways at 6,500 feet and 5,000 feet long with air freight and jet capability. Commercial Air Service is available in Natchez-Adams County Airport Jackson, Mississippi and Baton Rouge, Louisiana, both 90 minutes away.
HIGHWHIGHWAAYYSS
U.S. Highways 61, 84 and 98 intersect in Natchez, connect directly with Memphis, Baton Rouge, New Orleans and Mobile. Natchez Trace Parkway, scenic National Historic Site, originates in Natchez and terminates in Nashville.
Stanton Hall
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MISSISSIPPI RIVER
Located at mile 360 on the Mississippi River, the Natchez-Adams County Port has provided dependable service to destinations throughout the world for over 30 years. From the port, cargo can be shipped directly to Europe, Latin America and the far east via LASH barge in both high and low water conditions, as well as all destinations along the Mississippi River and the United States.
RAILRAIL
Natchez is served by a mainline of Canadian National Illinois Central Railroad, which starts in New Orleans and continues to Chicago, Illinois. Natchez-Adams County Port HEHEALALTHCARETHCARE
Adams County is served by two hospitals with 306 beds: Natchez Regional Medical Center and Natchez Community Hospital. The county is also served by four nursing homes: Adams County Nursing Home, Glenburney Nursing Home, Magnolia House, and Trace Haven Nursing Home.
Merit Health Natchez
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CASINOSCASINOS
Natchez was once infamous for its gambling at Natchez Under-the-Hill, where debauchery was as unwavering as the current of the Mississippi River. Visitors to Natchez can still get in on the action in Natchez’s riverfront casino, Magnolia Bluffs Casino, a replica of a 19th century sawmill. The subject hotel is a mile from the casino. Mississippi had 28 state-licensed casinos in 2018, including 12 on the Mississippi Gulf Coast, nine in the Northern Region (Tunica and Coahoma counties) and seven in the Central Region (Greenville, Washington County, Natchez and Vicksburg).
Total Fiscal Year 2017 state-licensed casino gross gaming revenues Magnolia Bluffs Casino were $2.09 billion, with $1.395 billion, or 66.8%, as the estimated net traveler/visitor share. The estimated net traveler/visitor share of gross gaming revenue made up 22 percent of the $6.343 billion in statewide travel and tourism expenditures by travelers.
EVENTEVENTSS
Natchez hosts numerous annual events such as the Festival of Music, the Great Mississippi River Balloon Race, and Mardi Gras. The variety, quality and number of arts and culture events in Natchez contribute in many ways to the whole community’s vibrancy.
Magnolia Bluffs Casino
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OUTDOOR RERECRECREAATIONTION
Abundant Recreation - including lakes, woodlands and wildlife - make outdoor recreation a favorable element in Natchez. Hunting and fishing are excellent, as are golfing, paddling, bicycling, jogging, swimming, tennis, baseball, football, soccer and other sports. Much of this activity takes place in Natchez's parks, including city-owned parks, such as the 200-acre Duncan Park. Smaller city parks are Bluff Park along the river, Memorial Park on Main Street, Natchez National Historical Park, Natchez State Park and the Natchez Trace Parkway.
PORPORT OF NAT NATTCHECHEZZ
The Port specializes in handling heavy containers and pallets of Bluff Park commodities ranging from automobiles to zucchini, and it offers the ability to ship to all destinations along the Mississippi River, as well as Europe, Latin America and the far east. Located at the port is Natchez Railroad that connects with Canadian National Railroad, while truck drivers have easy access to U.S. Highways 61, 84 and 98 that connect with Interstates 10, 20 and 55.
Port of Natchez-Adams County
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Viking Cruise Lines - Europe
VIKING CRUISE LINELINESS
According to The Natchez Democrat, the City of Natchez recently signed and submitted an agreement to lease property on the Mississippi River to Viking USA LLC for a new docking facility. The Natchez Mayor and Board of Aldermen unanimously agreed to apply for approximately $9 million from a U.S. Department of Transportation Build Grant with a local match of approximately $1.9 million to fund constructing the ramp facility on the Natchez riverfront. Viking’s desire to dock in Natchez could mean growth for the businesses Under the Hill, a mile from the Property, and ultimately economic growth for the city.
Viking will conduct surveys of the property to determine where they will build the docks. The ramp could be located just south of Magnolia Bluffs Casino and accommodate up to three of American Cruise Line’s vessels. The first of Viking’s three boats is expected to be completed in 2021 and the second boat in 2023, and each boat is expected to accommodate approximately 390 passengers. The agreement states a docking lease — which would be signed subsequently to the agreement the Board of Aldermen approved — would last for 20 years from the day the first Viking vessel docks in Natchez.
Page 33 of 37 NATCHEZ MARKET OVERVIEW HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
NANATTCHECHEZ TRAZ TRACECE
The Natchez Trace Parkway is a 444-mile recreational road and scenic drive through three states. It roughly follows the "Old Natchez Trace" a historic travel corridor used by American Indians, "Kaintucks," European settlers, slave traders, soldiers and future presidents. Today, people can enjoy not only a scenic drive but also hiking, biking, horseback riding and camping along the parkway. To the south, Grand Village of the Natchez Indians is home to a reconstructed Natchez house and three ceremonial mounds.
TTOURISMOURISM
Natchez, Mississippi is a quaint town located on the Mississippi River Natchez Trace border with Louisiana. The history of Natchez, along with the casinos located on the River, bring in thousands of tourists every year. In the fiscal year 2017, Travel and Tourism was 4th in direct non-farm establishment based employment, behind manufacturing, healthcare, and retail trade. Most of the direct FY 2017 statewide travel and tourism jobs – 85,365 of 87,335, or 97.7% – were private sector careers, including hotels/motels, restaurants, casinos and retail. The other 1,970, or 2.3%, were staff in state parks, federal parks, outdoor recreation, airports, historic sites, state/local tourism offices, museums, performing arts centers and spectator sports sites.
Grand Village of the Natchez Indians
Page 34 of 37 NATCHEZ MAJOR EMPLOYERS HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
Page 35 of 37 TEAMTEAM PROFILEPROFILE HGI SHREVEPORT & HAMPTT ON NAON NATT CHECHEZZ HGI SHREVEPORT & HAMPTT ON NAON NATT CHECHEZZ
Michael Bull, CCIM Michael BullMichael Bull Michael Bull, CCIM Michael BullMichael Bull President, National Officeoup Gr Broker President, National Officeoup Gr Broker TEAMTEAM PROFILEPROFILE [email protected] TEAM PROFILE [email protected] HGIHGI SHREVEPORSHREVEPORTSHREVEPORTT 5971 && HAMPHAMPTTONHAMP FINANCIALTT ON NAON NATTCHECHEZZNAON NA TTPLAZPLAZAACHECHEZZ HGI SHREVEPORT5971 & HAMP FINANCIALTT ON NAON NA TTPLAZPLAZAACHECHEZZ 404-876-1640 x101 404-876-1640 x101
Michael Bull Aubri Lienemann MichaelMichaelMichael Bull Bull Bull, CCIM AubriMichael Lienemann BullMichael Bull MichaelBroker Bull, CCIM MichaelMarketing BullMichael Bull BrokerBrokerPresident, National Officeoup Gr MarkBroketinger [email protected], National Officeoup Gr Broker [email protected]@BullRealty.com 404-876-1640Michael@BullR x ealty101 .com 404-876-1640404-876-1640Michael@BullR x x ealty101 101.com 404-876-1640 x101 404-876-1640 x101
Subhash Naik Carine DaCarine Davisvis Subhash Naik CarineAubri DaCarine Da Lienemannvisvis Broker AubriMark etingLienemann Broker MarkMarketingeting [email protected] Marketing [email protected]
661-978-3109 661-978-3109
SubhashSubhash Naik Naik ScScottCarine Jackott DaCarine JacksonsonDavisvis SubhashSubhash Naik Naik Naik ScScottCarine Jackott DaCarine JacksonsonDavisvis Broker Analyst BrokerBrokerBroker AnalyMarksteting [email protected] Marketing [email protected]@[email protected] [email protected] 661-978-3109661-978-3109 661-978-3109 661-978-3109
ScScott Jackott Jacksonson ScScott Jackott Jacksonson Analyst Analyst P age 40 of 41 P age 40 of 41
PagePPageage 364036 ofof 37 4138 PPageage 4036 of 4138 CONFIDENTIALITY AGREEMENT HGI SHREVEPORSHREVEPORTT & HAMPHAMPTTON NAON NATTCHECHEZZ
This Confidentiality Agreement (“Agreement”) is made and agreed to for the benefit of the undersigned II. Acting as a Principal: party (“Receiving Party”), the owner of the subject property (the “Seller”) and undersigned broker Bull Receiving Party hereby warrants that it is acting a s a p r incipal only, a n d n ot a s a b r oker, r e garding this Realty Incorporated (“Broker”). Now therefore in consideration of the privileges granted to Receiving Party contemplated transaction. R e ceiving P a rty a c knowledges t h at B r oker i s w orking a n a g ency c a pacity as with respect to receiving certain confidential information, and other good and valuable consideration, the representing the Seller only in this transaction and is the only Broker involved in this potential transaction. Receiving Party hereby agrees to the following: Receiving Party agrees to not be involved in any arrangement to lease or purchase the property, in whole or in part, as a lender, partner, buyer of the note, buy in foreclosure, buy from bankruptcy court, or in any I. Confidential Information: other manner acquire an investment in, joint venture or contro l of the property, unless Bull Realty, Receiving Party will receive confidential information regarding properties referred to as 627 S Canal Incorporated is paid a commission at closing as per separate agreement with Seller. Street, Natchez, MS 39120 & 5971 Financial Plaza, Shreveport, LA 71129 Prospect agrees to not disclose to any person that the property may be available for sale or lease, or that discussions or negotiations are This agreement will expire two years from the date hereof. taking place concerning the property, nor any terms, conditions, or other facts with respect to the property, including but not limited to tenant information, lease rates, lease expirations, income and III. Governing Law expenses, and any such possible purchase, including the status thereof. The term “person” used in this This Agreement shall be governed and construed in accordance with the laws of the States of Mississippi & agreement shall be interpreted broadly and shall include, without limitation, any corporation, Louisiana. company, partnership or individual other than parties to which Broker approves in writing. Receiving Party may share information with directors, officers, employees, agents, affiliates, counsel, lending If you are a broker, or a principal desiring to include an outside broker, contact the listing agent directly for sources, accountants or representatives of Receiving Party that Receiving Party notifies of the a Buyer and Buyer’s Broker Confidentiality & Commission Agreement. requirements of this Agreement. Receiving Party agrees to not contact the property owner, the management, the tenants, the lender, the vendors, the insurers, the employees or the customers of any business at the site.
Accepted and agreed to __ / __ / __
Receiving Party Tom French Broker of Record: 404-876-1640 x147 Signature Michael Bull | Bull Realty, Inc. [email protected]
Printed Name MS License# 19258 LA License# #0995682801-ACT Cole Spain Title 404-876-1640 x132 Company Name Co-Broker: [email protected] Subhash Naik | Hotel Brokers of America Address License# 01717362 Bull Realty, Inc. Email 50 Glenlake Parkway Suite 600 Phone Atlanta, GA 30328 Fax
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